VS
Compare CIBC MSCI Canada Equity Index ETF (CCEI) vs Manulife Smart Defensive Equity ETF (CDEF) to find the best fit for your portfolio. CCEI provides Financials, Energy, and Materials exposures, while CDEF is primarily weighted in Financials, Energy, and Industrials. When evaluating costs, CCEI features a management fee (MER) of 0.04%, compared to 0.25% for CDEF. Performance-wise, CCEI has returned 10.53% year-to-date with +$70 M in net flows, whereas CDEF is at 10.11% with +$0 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
CCEI
CDEF
| AuM | $720.27 M | $3.67 M |
| Management Fees | 0.04% | 0.25% |
| Exp. ratio | 0.05% | 0.28% |
| Tracking Difference | -0.03% | - |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CCEI | +1.62% | +5.28% | +10.53% | +33.87% | +91.21% |
CDEF | +2.11% | +4.94% | +10.11% | +20.81% | +67.54% | |
| Flows | CCEI | +$38 M | +$59 M | +$70 M | +$41 M | +$275 M |
CDEF | +$0 M | -$0 M | +$0 M | -$2 M | +$1 M |
CCEI vs CDEF exposure
Countries
CCEI
Canada
93.33%
CDEF
Canada
96.44%
Sectors
CCEI
Financials
28.68%
Energy
18.55%
Materials
18.05%
Other
11.17%
Industrials
8.63%
Other
14.91%
CDEF
Financials
27.82%
Energy
17.45%
Industrials
14.58%
Materials
12.61%
Utilities
7.51%
Other
20.03%
As of June 11, 2026
Top 10 Holdings
CCEI
ROYAL BK CANADA
6.78%
TORONTO DOMINION
4.74%
ENBRIDGE
3.55%
CDN NATURAL RESOURCE
3.07%
AGNICO EAGLE MINES LTD
3.05%
BANK OF MONTREAL
2.88%
CDN IMPERIAL BK
2.67%
BNS
2.57%
CA11271J1075
2.51%
SUNCOR ENERGY
2.38%
CDEF
CENOVUS ENERGY
3.50%
IMPERIAL OIL
3.22%
ENBRIDGE
2.84%
CANADIAN PACIFIC RAILWAY
2.73%
TC ENERGY CORP
2.71%
HYDRO ONE
2.65%
NATIONAL BANK OF CANADA
2.65%
FORTIS
2.64%
CDN NATL RAILWAY
2.58%
CDN IMPERIAL BK
2.58%
Diversification
CCEI
Total weight of top 10 holdings out of 272 total
34.20%
CDEF
Total weight of top 10 holdings out of 60 total
28.09%
Characteristics
Compare
CCEI
CDEF
| Provider | CIBC | Manulife Investments |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI Canada Domestic IMI GTR Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.19% | 0.41% |
| Meets ESG criteria | No | No |
| Inception Date | March 31, 2021 | November 10, 2021 |
Frequently asked questions about CCEI and CDEF
Which ETF has performed better year to date: CCEI or CDEF?
As of June 11, 2026, CCEI has returned 10.53% year to date, while CDEF has returned 10.11%. CCEI is ahead on YTD performance.
Which ETF is larger by assets under management: CCEI or CDEF?
As of June 11, 2026, CCEI manages $720.27 M in assets, while CDEF manages $3.67 M. CCEI is the larger fund by AUM.
How are CCEI and CDEF managed?
CCEI is passively managed by CIBC. It tracks the MSCI Canada Domestic IMI GTR Index - CAD benchmark. CDEF is actively managed by Manulife Investments. It does not track an index.
What sectors do CCEI and CDEF emphasize?
CCEI is most exposed to Financials, Energy, and Materials. CDEF is most exposed to Financials, Energy, and Industrials.
Which ETF is attracting more investor flows: CCEI or CDEF?
Year to date, CCEI has seen +$69.94 M in net flows, compared with +$0.00 M for CDEF. CCEI has attracted more net investor money so far.
How do the fees of CCEI and CDEF compare?
CCEI has an expense ratio of 0.05%, while CDEF has an expense ratio of 0.28%.
What are the top holdings of CCEI and CDEF?
CCEI's largest holdings include ROYAL BK CANADA and TORONTO DOMINION. CDEF's top holdings include CENOVUS ENERGY, IMPERIAL OIL, and ENBRIDGE.
Which ETF is more diversified: CCEI or CDEF?
CCEI holds 242 securities, while CDEF holds 60. On holdings count, CCEI is the more diversified portfolio.
Recent articles about CCEI and CDEF
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.